In a recent survey of college professors, it was found that the average amount of money spent on entertainment each week was normally distributed with a mean of 95.25 and a standard deviation of 27.32.
What is the probability that the average spending of a sample of 25 randomly-selected professors will exceed 102.50?A) 0.0918
B) 0.1064
C) 0.3936
D) 0.4082
Question 2
Whenever the expected frequency of a cell is less than 5, one remedy for this condition is to decrease the significance level.
Indicate whether the statement is true or false
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The Economics of Money, Banking and Financial Markets, Business School Edition